How about keeping a bit more cash reserve? Makes me nervous seeing that we were at close to zero with lots of stock. That's how you go broke although you don't need to?
I am in for the long run here. Paying dividends necessarily weakens a company, because they could spent it on expansion, building their own datacenters or anything like that. I'd rather have a high rate of reinvestment, but then I don't have all the information.
The idea is that they are selling the stock as we speak. Selling chips makes a good return. Holding cash doesn't. If AM can't make a profit selling chips we are all f**** anyway. They have always held enough back for reinvestment anyway.